49296 results returned for search: "" category ("Other" AND "Business")
Bermuda's international insurance sector felt the full effects of the fallout from the turmoil impacting the US financial markets yesterday.
Wall Street plunged after the US government bailed out American International Group (AIG), with the Federal R...
DATE: Sep 18, 2008
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NEW YORK (Reuters) – Manic and increasingly desperate dealmaking gripped Wall Street as shares of investment banks Morgan Stanley and Goldman Sachs plummeted amid more signs of distress in the global financial industry.
Morgan Stanley was discussing ...
DATE: Sep 18, 2008
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NEW YORK (Reuters) – Washington Mutual Inc, the giant US savings and loan beleaguered by mortgage losses, has put itself up for sale, sources familiar with the matter said yesterday.
The Seattle-based thrift has hired Goldman Sachs & Co and Morgan St...
DATE: Sep 18, 2008
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For the second day running, Butterfield Bank shares were the only stock traded on the Royal Gazette/Bermuda Stock Exchange.
Butterfield Bank closed at $14.15, up $0.05 (0.33 percent) after 13,650 shares changed hands.
The Bermuda Insurance Index clos...
DATE: Sep 17, 2008
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Bermuda-based offshore law firm Appleby is set expand east with the opening of new offices in Dubai and Zurich in Switzerland.
The legal firm plans boost its global network by launching the two offices which will further extend the services it offers...
DATE: Sep 17, 2008
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TORONTO, (Reuters) — The Toronto Stock Exchange's main index finished down slightly yesterday after hitting the lowest level in almost two years early in the day as investors fretted over the fate of beleaguered US insurer American International Grou...
DATE: Sep 17, 2008
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NEW YORK (AP) — Its future in the balance, American International Group Inc. huddled yesterday with Federal Reserve officials to find the cash the huge insurer needs to stay in business and avoid igniting more global financial turmoil.
Meetings at th...
DATE: Sep 17, 2008
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A.M. Best Co. has downgraded the financial strength rating of Bermuda-based Lehman Re to B (Fair) from A- (Excellent) and issuer credit rating to "bb" from "a-".
The outlook for both ratings is negative. Lehman Re is a wholly owned reinsurance subsid...
DATE: Sep 17, 2008
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Butterfield Bank is set to get a multi-million dollar boost after announcing the completion of the merger of its Bermuda-based and international Fund Services businesses with independent fund administrator Fulcrum Group to form the new company Butter...
DATE: Sep 17, 2008
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NEW YORK (Bloomberg) — A collapse of American International Group Inc., the insurer seeking to raise as much as $80 billion, would have consequences for financial firms around the globe, analysts and investors said.
Wall Street's top firms, and the b...
DATE: Sep 17, 2008
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